Almunia Sees November Action After ‘Rigorous’ Spain Bank Review
By Stelios Orphanides & Rebecca Christie -
2012-10-02T12:20:09Z
European Union Competition Commissioner Joaquin Almunia said recapitalization of Spanish banks may be able to move forward in November now that an independent review has established a 59 billion-euro ($76 billion) capital shortfall.
“I think this has been a very detailed exercise, a rigorous one with a huge amount of work being done,” Almunia told reporters today in Nicosia, Cyprus. “I think it is really transparent and trustful.”
To contact the reporters on this story: Stelios Orphanides in Nicosia at sorphanides@bloomberg.net; Rebecca Christie in Brussels at rchristie4@bloomberg.net
To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net
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